Advance Auto Parts Beats Estimates, Home Depot Lifts Outlook

Mukesh Buch
14 Aug, 2018
New York City

Advance Auto Parts beats earnings and sales estimates. Brinker International net declined on weak revenues. CDK Global forecasted fiscal 2019 pretax profit to jump 18%. The Home Depot raised fiscal 2018 outlook.

[R]1:05 PM New York City, New York – Advance Auto Parts beats earnings and sales estimates. Brinker International net declined on weak revenues. CDK Global forecasted fiscal 2019 pretax profit to jump 18%. The Home Depot raised fiscal 2018 outlook.[/R]

Tollbooth Index fell 22.20 to 16,005.51 but for the year-to-date soared 16.3%.

Earnings Review

Advance Auto Parts Inc ((AAP)) soared 7.4% or $10.73 to $155.57 after the automobile parts and accessories retailer reported revenues in the second-quarter ending in June jumped 2.8% from a year ago to $2.3 billion.

Comparable store sales in the quarter increased 2.8%.

Net income in the quarter surged 35.4% to $117.8 million or $1.59 per diluted share from $87 million or $1.17 in the same quarter last year.

The automobile parts retailer forecasted fiscal 2018 total revenues in the range of $9.3 billion to $9.5 billion and comparable store sales in the range of breakeven to 1.5% and capitalexpenditures between $180 million and $220 million.

Brinker International Inc ((EAT)) rose 25 cents to $44.10 after the casual dining restaurants operator said total revenues in the fourth-quarter ending on June 27 grew 0.8% from a year ago to $817.1 million.

Net income in the quarter declined 13.6% to $43.7 million or $1.01 per diluted share from $50.6 million or $1.02 in the same quarter last year.

The restaurants operator forecasted fiscal 2018 diluted earnings per share in the range of $3.70 to $3.90.

CDK Global, Inc ((CDK)) slipped 1.9% or $1.22 to $62.66 after the automotive digital marketing solutions provider said revenues in the fourth-quarter ending in June rose 0.7% from a year ago to $569.2 million.

Net income in the quarter soared 69.3% to $99.4 million or 75 cents per diluted share from $58.7 million or 41 cents in the same quarter last year.

CDK forecasted fiscal 2019 revenues to increase 2% to $2.3 billion and pretax profit to jump 18% to $512.0 million and net income to surge 29% to $380.8 million.

The Home Depot Inc ((HD)) fell 94 cents to $193.20 after the home improvement supplier reported sales in the second-quarter ending in June soared 8.4% from a year ago to $30.5 billion.

Comparable store sales in the quarter jumped 8% and domestic and comparable sales advanced 8.1%.

Net income in the quarter jumped 30% to $3.5 billion or $3.05 per diluted share from $2.7 billion or $2.25 in the same quarter last year.

Home Depot raised fiscal 2018 revenues forecast to 7% growth and comparable sales to increase 5.3% and diluted earnings per share growth to soar 29.2%.